According to the changes imposed by new regulations for submission of financial statements (MPF Order no. 123/2016) framing the companies by category has been changed significantly since 2015.
81% of submitted financial data for 2015 are micro-entity format, compared to approximately 2% for 2014. Migration was in the category of financial statements in the format required for small entities, where last year 94% of companies were included.
In terms of insolvencies, the number of open procedures was decreased by 50%. But 23% is the increasing number of radiated companies.
At the same time, in 2015 were set up with 11% more companies than in 2014.
Analyzing all these figures together we believe that the business environment in Romania is more secure compared to previous years. With a significant decrease in insolvencies and a good increase in the number of newly established companies it seems to contain more serious companies.